Personal MBA: Trust

Kaufman proposes a hypothetical deal between the reader and a contractor. He explains that you would never pay the full sum of money needed to build a lavish villa without some sort of guarantee that you would receive what you’re paying for. He goes on to state that, “Without a certain amount of trust between parties, a transaction will not take place.”

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Personal MBA: Reputation

I think reputation is one of the most significant factors of success for small businesses. Because small companies don’t have the marketing budget to continually inundate the public with positive messaging and millions of customer reviews or testimonials to draw from, they must rely on other methods for maintaining a good reputation.

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Personal MBA: Hook

It seems the average attention span these days is quite abysmal, so whatever message you’re able to get in front of a potential customer better be short, sweet and informative. These are known as hooks and are described by Kaufman as, “a single phrase or sentence that describes an offer’s primary benefit.”

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Personal MBA: Free

Giving away free products or services is a classic marketing strategy and a great way to gain attention. Kaufman notes, however, and this has also been true in my experience that you better make sure you're giving away something of real value.

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Personal MBA: Desire

Kaufman really threw me a curve ball in this section. I assumed this topic would be pretty straightforward. You want to craft marketing copy or narratives that elicit desire from your potential customers. Turns out, trying to create a desire for your product or service is a huge waste of time.

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Personal MBA: End Results

This has been one of my favorite insights from Personal MBA so far because I can honestly say that this has never occurred to me. Kaufman states, “Marketing is most effective when it focuses on the desired End Result, which is usually a distinctive experience or emotion related to a Core Human Drive.”

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Personal MBA: Grabbing Attention

Grabbing a potential customer’s attention is vital to the success of any business venture. But, as Kaufman states, “Rule #1 of marketing is that your potential customer’s available attention is limited.” We all know this to be true, and in our minds, we constantly filter out all of the incoming information that doesn’t interest us.

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Personal MBA: Critical Assumptions

We naturally make assumptions about everything every day during the course of our lives. Those assumptions, often times, are of little consequence, but when they are the basis of major business decisions, they reach the status of critical. Kaufman defines critical assumptions as, “facts or characteristics that must be true in the real world for your business or offering to be successful.”

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